THE CONDO BOOK PROJECT

226 Putnam Avenue Condominium

226 Putnam Avenue, Brooklyn, NY 11216

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Overview

Units
5 residential
Subway
6 min walk to Nostrand Av A CFranklin Av C S, 7 min
Principals
Itay Gamlieli, Ofir Badash
Average $/sf
$1,217Homes in Schedule A, as first offered
Common charges
$299–$737 a monthSponsor's first-year estimate in Schedule A, September 1, 2024 – August 31, 2025
Offering price
$4.6 million total $4.39 million when first offered

The sponsor of record is 226 Putnam LLC, represented by Jeffrey Zwick & Associates, PC. The offering plan runs 377 pages. The nearest other condo plan on file is Belle Grove Condominium, next door.

Plan CD230296 · New · accepted Aug 12, 2024 · AG record ↗

Compare

FigureThis building11155 Bedford27 units · 0.1 miaccepted 2024Belle Grove34 units · 0 miaccepted 2024
Common ChargesPer Square Foot / Month$0.72Above peers$0.70$0.44
Average Offering PricePer Apartment$920,000In line$910,000$1.52M
Average PricePer Square Foot$1,217In line$1,176$1,233
Property TaxesPer Square Foot / Month$0.78In line$0.36$1.12
Average Unit SizeSquare Feet756 SFSmaller774 SF1,233 SF

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Unit mix, closings, budgets, finishes and the team, against 1155 Bedford and Belle Grove, cited to the offering plans. No credit card required.

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How We Got This
  • Comps: the closest Brooklyn plans on size, $/SF and launch date, within 2 miles when possible.
  • Figures: each building's own offering plan, filed with the NY Attorney General. Nothing is estimated.
  • Checked: a price list publishes only when its math adds up, and building pages cite the plan pages.
  • Labels: In line is between the comps; Below/Above peers is past both by up to 15%; Lowest/Highest by more.

Closings Pro

Homes closed100% of the homes in Schedule A5 of 5
Closing prices vs. Schedule A5 homes: $4,490,000 at closing against $4,600,000 in Schedule A (p. 32)−2.4%
Average closing price5 homes, on their Schedule A square feet$1,188 / SF
Closingsfirst and latest recordedJan 15, 2025 – Mar 31, 2025

Sales recorded with the Department of Finance (ACRIS) through Aug 31, 2025: deeds, or transfer tax filings for a building on leased land, of $10,000 or more. A home's first sale since the plan was filed is the sponsor's closing; resales aren't counted. Closing prices are compared with the same home's Schedule A price, as first offered; a deed covering more than one home isn't compared. Amendments often change prices before a home closes, and a deed that includes parking or storage counts its full price. ACRIS records a sale weeks after closing, so recent contracts don't appear yet. Every building's sales.

All 5 closings
HomeRecordedClosing priceSchedule ADifference
402Jan 15, 2025$635,000$625,000 p. 32+1.6%
301Feb 3, 2025$1,180,000$1,195,000 p. 32−1.3%
401Feb 3, 2025$540,000$555,000 p. 32−2.7%
201Mar 11, 2025$1,195,000$1,175,000 p. 32+1.7%
101Mar 31, 2025$940,000$1,050,000 p. 32−10.5%

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Every home's recorded closing price against its Schedule A price, with the ACRIS document and the plan page.

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Budget

From our research: The Sponsor's Condo-Creation Fee in NYC · NYC Condo Insurance Costs Are Rising · Condo Supplies Cost per Unit, by Size

Team

Sponsor
226 Putnam LLC
Principals
Itay Gamlieli, Ofir Badash
Tax estimate
Berish LichtmanPrepared the first-year real estate tax projection
Construction lender
Bayport FundingLender on the mortgage and building loan agreement recorded April 2022 in ACRIS; $2.23 million recorded

From our research: Do NYC Developers Rehire the Same Firms?

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